When installing ActiveState Perl, at the third step "Custom Setup" when it asks what features you want, it also shows the defaulted "Location: C:\Perl\" and a 'Browse' button next to that. Click that button and change the location to whatever you want, such as "C:\Perl51001\". You can do that with any of the ActiveState installs.
And as Rob mentions, I also have batch files to switch my DOS window to the desired version: pathperl510s.bat , pathperl588.bat , pathperl561.bat, etc.
rem Add Perl 5.8.8 to path path C:\Perl588_822\site\bin;C:\Perl588_822\bin;%path%
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